What Brazil’s Community Banks Can Teach Us About Local Investment

In many democracies, growing wealth inequality is showing up as a destabilizing force. What happens when we shift a sole focus on individual prosperity and broaden our lens to community wealth? To walk us through what this shift looks like, Ashoka’s Asier Ansorena spoke with Ashoka Fellow Joaquim de Melo, founder of Banco Palmas, Brazil’s first community bank that opened its doors 25 years ago. He talks about how they pioneered an alternative currency to build and retain community wealth in Fortaleza, and how they have since grown into a national movement of 150 community banks, which mobilizes and redistributes 1.5 billion reais (nearly 300 million USD) yearly in

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